Tampa, Fla. (May 31, 2017) – The Plasencia Group is pleased to announce the sale of the Courtyard Fort Lauderdale Beach hotel, located in Fort Lauderdale, Florida. The firm represented Fillmore Capital Partners in the sale of the 13-story, 261-guestroom hotel to Summit Hotel Properties, a publicly traded real estate investment trust.
The Courtyard was offered with an adjacent 0.83-acre surface parking lot, providing the opportunity for future development in one of the nation’s premier leisure destinations.
The Plasencia Group team was led by Senior Vice Presidents Robert Wiemer and Dennis Reed and Vice President Chris Plasencia.
“The Courtyard is a strong performer in excellent condition, located in the midst of an international tourist destination,” commented Wiemer. “The destination amenities and the hotel’s beachfront location generated robust interest from the real estate investment community.”
Plasencia added, “As one of the only nationally branded select service hotels offering direct access to Fort Lauderdale Beach and the Atlantic Ocean, the Courtyard should continue to capitalize on its highly efficient operation and the market’s strong demand generators.”
The Plasencia Group, headquartered in Tampa, Florida, has completed engagements for owners of nearly one hundred hotel and resort assets in Florida alone, and eighty Marriott branded hotels nationally.